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The Many Functions of Commercial Ban...

Moe, Todd G.

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The Many Functions of Commercial Banking: Liquidity Management, Mergers, and Retail Lending.

Record Type:	Electronic resources : Monograph/item
Title/Author:	The Many Functions of Commercial Banking: Liquidity Management, Mergers, and Retail Lending./
Author:	Moe, Todd G.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2018,
Description:	157 p.
Notes:	Source: Dissertations Abstracts International, Volume: 80-09, Section: A.
Contained By:	Dissertations Abstracts International80-09A.
Subject:	Economics. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10838862
ISBN:	9780438913660

The Many Functions of Commercial Banking: Liquidity Management, Mergers, and Retail Lending.
Moe, Todd G.

The Many Functions of Commercial Banking: Liquidity Management, Mergers, and Retail Lending. - Ann Arbor : ProQuest Dissertations & Theses, 2018 - 157 p.

Source: Dissertations Abstracts International, Volume: 80-09, Section: A.

Thesis (Ph.D.)--Southern Illinois University at Carbondale, 2018.

This item must not be added to any third party search indexes.

The main objective of this dissertation is to provide insight into commercial bank decisionmaking in the United States. To this end, commercial bank behavior is explored in three separate essays. Chapter 1 examines the liquidity adjustment behavior of U.S. commercial banks from 1993-2006. A panel vector autoregressive framework is employed to estimate the dynamic responses of bank loans and liquid assets to a variety of bank funding shocks. Orthogonalized impulse responses reveal that banks respond to disruptions in funding by extending less credit and hoarding liquid assets. This paper also highlights functional differences between small and large banks. Large banks generally have access to capital markets and other external funding sources; small banks do not. As a result, small banks are more sensitive to funding disruptions. Balance sheet liquidity is also vitally important for small banks. Small, liquid banks are able to continue lending in response to disruptions in core deposits while illiquid banks are forced to cut lending. Chapter 2 investigates the effects of bank mergers on deposit growth over the period 1994- 2005. The present study differentiates between mergers initiated by small and large banks. We find empirical evidence of deposit runoff to go along with the anecdotal evidence known to the banking community. Contrary to expectation, mergers initiated by large commercial banks are able maintain their deposit levels while mergers between small banks generally lose deposit funding. Chapter 3 analyzes the impact of the Dodd-Frank Act on key segments of the mortgage market. Error correction models of the residential real estate loan share and the non-jumbo loan share indicate that the Dodd-Frank Act coincided with a dramatic decline in both loan share measures. For example, the Dodd-Frank Act had a negative, long-run effect on the non-jumbo loan share for large commercial banks; reducing the non-jumbo loan share by 15.13%. Moreover, the residential real estate share declined by 8.79%. These findings are consistent with commercial banks re-allocating their loan portfolios in favor of high dollar C&I loans, commercial real estate loans, and jumbo mortgages in response to the increased fixed compliance costs of originating loans under the Dodd-Frank Act.

ISBN: 9780438913660Subjects--Topical Terms:

517137
Economics.

The Many Functions of Commercial Banking: Liquidity Management, Mergers, and Retail Lending.
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500 $a Source: Dissertations Abstracts International, Volume: 80-09, Section: A.
500 $a Publisher info.: Dissertation/Thesis.
500 $a Advisor: McNutt, Jamie;Sharma, Subhash C.
502 $a Thesis (Ph.D.)--Southern Illinois University at Carbondale, 2018.
506 $a This item must not be added to any third party search indexes.
506 $a This item must not be sold to any third party vendors.
520 $a The main objective of this dissertation is to provide insight into commercial bank decisionmaking in the United States. To this end, commercial bank behavior is explored in three separate essays. Chapter 1 examines the liquidity adjustment behavior of U.S. commercial banks from 1993-2006. A panel vector autoregressive framework is employed to estimate the dynamic responses of bank loans and liquid assets to a variety of bank funding shocks. Orthogonalized impulse responses reveal that banks respond to disruptions in funding by extending less credit and hoarding liquid assets. This paper also highlights functional differences between small and large banks. Large banks generally have access to capital markets and other external funding sources; small banks do not. As a result, small banks are more sensitive to funding disruptions. Balance sheet liquidity is also vitally important for small banks. Small, liquid banks are able to continue lending in response to disruptions in core deposits while illiquid banks are forced to cut lending. Chapter 2 investigates the effects of bank mergers on deposit growth over the period 1994- 2005. The present study differentiates between mergers initiated by small and large banks. We find empirical evidence of deposit runoff to go along with the anecdotal evidence known to the banking community. Contrary to expectation, mergers initiated by large commercial banks are able maintain their deposit levels while mergers between small banks generally lose deposit funding. Chapter 3 analyzes the impact of the Dodd-Frank Act on key segments of the mortgage market. Error correction models of the residential real estate loan share and the non-jumbo loan share indicate that the Dodd-Frank Act coincided with a dramatic decline in both loan share measures. For example, the Dodd-Frank Act had a negative, long-run effect on the non-jumbo loan share for large commercial banks; reducing the non-jumbo loan share by 15.13%. Moreover, the residential real estate share declined by 8.79%. These findings are consistent with commercial banks re-allocating their loan portfolios in favor of high dollar C&I loans, commercial real estate loans, and jumbo mortgages in response to the increased fixed compliance costs of originating loans under the Dodd-Frank Act.
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